Hi guys.
XRP formed a triangle pattern previously and currently after bottoming out started to dive out of the pattern into the breakout point.
My trade is already in and I expect the first move towards 0.29 levels, where we will face our first major ressistance and where we neeed to flip that to support in order not to get a strong rejection.
As well if we brake the ressistance at 0.29 we will be testing the previous local high at 0.33.
The price is respecting the channel and our agenda is to break above the top line of the channel first before we consider any significant moves to the upside.
Any thoughts?
Cheers!
XRP formed a triangle pattern previously and currently after bottoming out started to dive out of the pattern into the breakout point.
My trade is already in and I expect the first move towards 0.29 levels, where we will face our first major ressistance and where we neeed to flip that to support in order not to get a strong rejection.
As well if we brake the ressistance at 0.29 we will be testing the previous local high at 0.33.
The price is respecting the channel and our agenda is to break above the top line of the channel first before we consider any significant moves to the upside.
Any thoughts?
Cheers!
Waiting for a good re-entry